Bitcoin price remains stable around $ 60,000

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CityCoins Community Manager Patrick Stanley says bitcoin and cryptocurrency “aren’t going away anytime soon.”

Bitcoin was trading 0.1% higher Thursday morning.

The price was around $ 59,440 per coin, while rivals Ethereum and Dogecoin were trading around $ 4,220 and 23 cents per coin, respectively, according to Coindesk.

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The Reserve Bank of Australia has stepped up research into managing its own digital currency, but is still not convinced of the merits, its payments manager said Thursday, according to Reuters.

The comments were made at a financial services conference.

An Australian Senate report last month called for laws to be changed in a way more suited to digital currencies.

Most major economies are now considering issuing a central bank digital currency – although none have yet, said Tony Richards, Reserve Bank of Australia’s payments policy officer.

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Richards noted that the European Central Bank and Sweden appeared to be the furthest along of the major economies to consider a role for the CBDCs, Richards said the US Federal Reserve was more cautious.

In other cryptocurrency news, the Reserve Bank of India’s digital currency could see its pilot launch in the first quarter of next fiscal year, a senior central bank official told the Banking and Economic Conclave of the State Bank of India, as reported by a local newspaper.

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Central bank digital currencies, or (CBDC), are digital or virtual currencies that are essentially the digital version of fiat currencies, for India it would be the rupee of its national currency, according to Reuters.

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Previously, a smooth launch of the CBDC could be expected by December, but there has been no official timeline that the RBI has committed to.

The RBI has raised concerns about cryptocurrencies posing risks to macroeconomic and financial stability.

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